Social Welfare (Consolidation) Act, 1981

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Advances out of Central Fund.

[1942 IU, s. 47]

270.—(1) The Minister for Finance may out of the Central Fund or the growing produce thereof advance any sums required for the purpose of discharging the liabilities of the Fund, and for the purpose of providing the sums to be so advanced the Minister for Finance may borrow money in such manner as he may think proper and all moneys so borrowed shall be paid into the Exchequer.

(2) Any sums advanced under subsection (1) together with interest (if any) thereon at such rate as may be fixed by the Minister for Finance shall be charged on and be repayable out of the Fund and when so repaid shall be paid into the Exchequer.

(3) The principal of and interest on any securities issued by the Minister for Finance for the purpose of borrowing under subsection (1) and the expenses incurred in connection with the issue of such securities shall be charged on and payable out of the Central Fund or the growing produce thereof.